Why WeRide Stock Soared Higher This Week
Shares of WeRide (NASDAQ: WRD) are up this week. The company's stock spiked 9% as of 2:19 p.m. ET but was up as much as 16.8% earlier in the week. The jump comes as the S 500 rose 1.5% and the Nasdaq Composite rose 1.5%.
The Chinese company's stock jumped after it announced a major expansion into Saudi Arabia in partnership with the ride-hailing giant Uber Technologies.
The company announced earlier in the week that it will be launching operations in Saudi Arabia, marking a major expansion of its business in the Middle East. Its robotaxis will be available to the public via Uber by the end of the year.
Source Fool.com
Uber Technologies Inc Stock
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